Essential to have safety nets in place for loved ones

SINGAPORE - Anything can happen to anyone at any time, even if he or she is perfectly healthy.

That is why it is essential to have safety nets in place for the people that one leaves behind in the event of death. And this is where estate-distribution and succession issues come into play, said Mr Jeffrey Tan, senior director of Manulife Singapore.

"Most people are not aware of how to go about tackling such issues," he said. "But making a will is important, because you're doing the right thing while you still can."

Mr Tan will be speaking on the topic at a seminar organised by My Paper on Sunday. He is among four speakers who will discuss issues ranging from how to take charge of your career to retirement planning.

At the seminar, Mr Tan will address issues surrounding wills and estate planning, such as how to ensure that one's wishes are carried out after death.

This includes areas of concern such as one's Central Provident Fund (CPF) and the consequences of nominating, or not nominating, someone to receive one's CPF funds and bank savings.

"Even people who think they do not have enough (in terms of assets) have a lot to think about when it comes to such planning," said Mr Tan. For instance, those with children should also look into appointing guardians to look after them, he added.

tsjwoo@sph.com.sg

Find out from the experts how you can plan your retirement effectively at the My Paper Advance Series Seminar 2 on Sunday, from 2pm to 5pm, at SPH News Centre Auditorium (1000 Toa Payoh North). Online registration at https://pbp.sph.com.sg/mpadv closes today. Walk-in registration is available on Sunday.

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